Experts welcome ESMA's approach to EMIR enforcement

07/25/2013 | Risk.net (subscription required)

The European Securities and Markets Authority is taking a pragmatic approach to enforcing clearing and reporting rules in the European Market Infrastructure Regulation, experts say. "It's a welcome and pragmatic approach from ESMA, which could have been reduced to going tit for tat with the US, with lots of extraterritorial assertions -- even if it had no means of policing them," said Barney Reynolds, partner at law firm Shearman & Sterling.

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